JGP Wealth Management LLC Buys Shares of 1,108 Philip Morris International Inc. $PM

JGP Wealth Management LLC bought a new stake in Philip Morris International Inc. (NYSE:PM) during the second quarter, Holdings Channel.com reports. The institutional investor bought 1,108 shares of the company’s stock, valued at approximately $202,000.

A number of other large investors also recently bought and sold shares of PM. Abound Wealth Management lifted its position in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International in the first quarter valued at about $30,000. CBIZ Investment Advisory Services LLC lifted its position in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after buying an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Philip Morris International during the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International during the first quarter worth about $35,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PM shares. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. KGI Securities started coverage on shares of Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $195.44.

Philip Morris International Stock Performance

PM stock opened at $159.08 on Wednesday. The company’s 50 day moving average price is $164.07 and its 200 day moving average price is $168.83. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The firm has a market capitalization of $247.62 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 2.33 and a beta of 0.46.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. Equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. Philip Morris International’s payout ratio is currently 111.79%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.